It Was Argued That the Old Version of AASB 1023

question 7

Multiple Choice

It was argued that the old version of AASB 1023 would inappropriately increase the volatility in earnings through:

• A) Its requirement to recognise short-term changes in the net market value of investments in the income statement regardless of whether or not management intends to hold the investments long term.
• B) The failure to net reinsurance reimbursements from claims so that a higher level of claims is reflected in the income statement despite the fact that management has mitigated against this.
• C) The failure to recognise the value of intangible assets such as client lists that contribute to a steady flow of income for an insurer.
• D) The failure to net reinsurance reimbursements from claims so that a higher level of claims is reflected in the income statement despite the fact that management has mitigated against this and the failure to recognise the value of intangible assets such as client lists that contribute to a steady flow of income for an insurer.
• E) None of the given answers.

Understand the caloric energy provided by macronutrients.

Distinguish between essential and dispensable amino acids in the diet.

Grasp practical skills in the insertion and management of nasoenteric tubes.

Differentiate between saturated and unsaturated fats and their dietary implications.

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Definitions:

Proximal

Situated nearer to the center of the body or the point of attachment.

Reciprocity

A social principle that involves exchanging things with others for mutual benefit.

Attraction

A magnetic quality or force that draws individuals together, leading to friendship, love, or interest.

Kitty Genovese

A New York City woman whose 1964 murder prompted research into the bystander effect due to reports that witnesses failed to help her.